Secure One Capital

Fixed Rate Mortgages

Secure One Capital has plenty of choices in providing mortgage loans. One of the more popular choices is the fixed rate mortgage loan. Fixed-rate mortgages keep the same interest rate over the life of your loan, which means your monthly mortgage payment always stay the same. Fixed loans typically come in terms of 15, 20 or 30 years. This is great option because it saves some people more money that they can use to save, remodel the house, or put into retirement.

Pros of Fixed-Rate Mortgages

• Your monthly principal and interest payments stay the same throughout the life of the loan.
• You can more precisely budget other expenses month to month.

Cons of Fixed-Rate Mortgages

• You’ll generally pay more interest with a longer-term, fixed-rate loan.
• It takes longer to build equity in your home.
• Interest rates typically are higher than rates on adjustable-rate mortgages.

Who Should Get One?

If you plan to stay in your home for at least seven to 10 years, a fixed-rate mortgage offers stability with your monthly payments.
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